Arafura Rare Earths Limited · ASX:ARU
Arafura Rare Earths — 2025 Global Metals & Mining Conference
20 slides from Arafura Rare Earths's conference presentation, May 20, 2025
Slide 1: 2025 Global Metals & Mining Conference Presentation (ASX announcement)
ASX ANNOUNCEMENT 2025 GLOBAL METALS & MINING CONFERENCE PRESENTATION 20 May 2025 Arafura Rare Earths Limited (ASX: ARU) (Arafura or the Company) is pleased to attach a copy of the presentation delivered at the 2025 Global Metals & Mining Conference in Henderson, Nevada by Chief Financial Officer Pet
Slide 2: 2025 Global Metals & Mining Conference
ASX: ARU 2025 Global Metals & For personal use only Mining Conference May 2025
Slide 3: Disclaimer
Disclaimer This presentation is dated May 2025 and has been information. Rare Earths confirms that it is not aware of any new any assumptions referred to in the Company’s ASX prepared by Arafura Rare Earths Limited (“Arafura”, information or data that materially affects the announcement dated 11 Nov
Slide 4: Arafura Rare Earths: corporate summary
Arafura Rare Earths: corporate summary For personal use only NdPr is essential for the energy Supply security threat Nolans sits comfortably transition and electrification with ~90% of NdPr in first quartile of cost economy more broadly supplied by China 3 curve 7 • Strongest permanent magnet Why th
Slide 5: Nolans Project location
Nolans Project location For personal use only Stuart Highway 10km east Water supply 25km Alice Springs railyard, airport southwest and other services 135km south Amadeus natural gas Tailings and waste Deep water port and associated pipeline adjacent to site management at site infrastructure at Darwi
Slide 6: Construction ready
Construction ready Once financed, we are ready to go For personal use only Environmental permits and Granted mineral lease / Access to existing approvals in place1 license infrastructure >US$40m on site works de- Experienced Board and Construction to commence risking project schedule leadership team
Slide 7: Precarious reliance on supply of NdFeB magnets from China
Precarious reliance on supply of NdFeB magnets from China ROW’s supply chain resilience has been NdFeB Magnet Supply and Demand 2024 & 20301 For personal use only exposed by 2025 trade war. 400 Forecast ROW exposure to Chinese Supply ~183kt • In 2024, China produced 94% of the world's NdFeB 350 magn
Slide 8: Unfolding market dynamics exposing vulnerability of the rare earth magnet value chain
Unfolding market dynamics exposing vulnerability of the rare earth magnet value chain Myanmar For personal use only Conflict in the Kachin state of Germany Myanmar is significantly Germany has amended its impacting the supply of HRE’s. constitution constraining debt, Greenland & Creating a €500 bill
Slide 9: Regions are focusing on critical mineral sourcing initiatives
Regions are focusing on critical mineral sourcing initiatives to secure industrial autonomy and long-term prosperity For personal use only Implications for rare earths Implications for Arafura • China domestic prices fell due to export trade restrictions Increased demand/access to long-term offtake
Slide 10: Development pipeline challenging
Development pipeline challenging • Arafura’s Nolans Project is one of the most advanced among non-producing rare earths companies globally • Arafura is uniquely positioned to capitalize on forecast long-term supply and demand dynamics For personal use only Exploration / Study Funding / Construction3
Slide 11: Nolans in first quartile of cost curve
Nolans in first quartile of cost curve Nolans sits comfortably in the NdPr Cost Curve 2030, $/kg NdPr Cost, Real 20241 For personal use only first quartile ✓ Nolans to sit in first quartile net of phosphoric acid by- product credits2 ✓ China dominates market share ✓ Significant production today is m
Slide 12: Robust project economics
Robust project economics Key Project Information1, 2 Mining and Production Long life, high margin project Mine Life (years) 38 For personal use only NdPr Oxide (tpa) 4,440 SEG/HRE Oxide (tpa) 5734 • Fall in net operating costs to <US$30/kg driven by Phosphoric Acid (tpa 54% P2O5 MGA) 144,393 stronge
Slide 13: Binding offtake target
Binding offtake target Focus on strategic value and For personal use only equity investment Targeting NdPr users not aligned with ‘Made in China 2025 Strategy’. Offtake discussions now focused on parties bringing strategic value including equity investment. 1 Product may be supplied as NdPr Oxide or
Slide 14: Debt structure – conditionally approved
Debt structure – conditionally approved Tenor Amount Conditional credit approvals received for Facilities (Years) (US$ million) For personal use only more than US$1B in debt finance for Nolans Senior Debt Facilities Export Finance Australia 15 125 ✓ ECA Direct lend & ECA Covered Tranches Northern Au
Slide 15: Sources and uses of funds
Sources and uses of funds* Debt and NRFC funding secured For personal use only Sources and uses of funds1 (US$ million) • Target gearing ~50% • New equity requirement of US$793m (including COF) – Less NRFC US$133m (A$200m) – Remaining new equity requirement of US$660m Total new equity • Four layers
Slide 16: NRFC Investment Overview
NRFC Investment Overview1 NRFC partnership: Key Terms Summary For personal use only ✓ A$200m cornerstone investment NRFC A$200m Cornerstone Investment ✓ Convertible note structure Face Value • A$200m ✓ Tenor of 15 years and conversion period of 7 years Maturity Date • 15 years after the issue date ✓
Slide 17: Executing on funding strategy
Executing on funding strategy NRFC announcement to assist crowding in other cornerstone investors For personal use only Cornerstone Group Public Market Customer Cornerstone & Other Strategic • Substantial holders Industry Cornerstone • Government seeded funds with supply chain diversification mandat
Slide 18: ESG – an integrated approach focusing upon what matters most
ESG – an integrated approach focusing upon what matters most For personal use only As a greenfield developer we have a unique opportunity to create and deliver value for all stakeholders We recognise the interdependencies of ESG in our business We are building capability to deliver best- practice ES
Slide 19: The Nolans Project is ready to go
The Nolans Project is ready to go For personal use only Large, high grade, Development ready, Projected first quartile Debt funding and Project delivery to Environment, social, scalable resource ore to oxide project of cost curve binding offtakes drive re-rate of market governance 38-year mine life
Slide 20: Contact
ASX: ARU For personal use only Contact Level 6, 432 Murray St Perth WA 6000 PO Box 5773 St Georges Terrace Perth WA 6831 T: +61 8 6370 2800 E: arafura@arultd.com (All corporate and general enquiries) E: nolansproject@arultd.com (Nolans Project enquiries only)
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